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Reddit/Gamestop vs.Wall Street

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12467…15

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    #92
    hatrickpatrick
    Registered Users Posts: 17,797 ✭✭✭✭hatrickpatrick


    To simplify a little more, it could well be argued that the crash in 2008 would never have happened if the main players involved had just continued swapping IOUs indefinitely as opposed to anyone actually bothering to call theirs in. The whole system as it exists today is a ponzi scheme, and yet for some reason, we allow it to control everything from our day to day grocery shopping to government budgets. It's insane.


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    #93
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    It was funny, but a lot of people will probably lose a bit on it too..

    Be interesting if it started a movement towards this sort of thing..


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    #94
    Colonel Claptrap
    Registered Users Posts: 945 ✭✭✭Colonel Claptrap


    Posters creaming themselves over retribution for '08 and Anglo. "Major financial collapse".

    The number of funds affected by this is minuscule. Wall Street is not on it's knees.
    A couple of traders are.


    What's the exit strategy for WSB?


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    #95
    hatrickpatrick
    Registered Users Posts: 17,797 ✭✭✭✭hatrickpatrick


    Colonel Claptrap wrote: »
    Posters creaming themselves over retribution for '08 and Anglo. "Major financial collapse".

    The number of funds affected by this is minuscule. Wall Street is not on it's knees.
    A couple of traders are.

    Melvin had to be bailed out. They were the target of this. Mission accomplished frm WSB's point of view as far as I can see.
    What's the exit strategy for WSB?

    That's the thing, there isn't one. If you read through the comments, most people are putting money in without expecting to get it back, for the privilege of hopefully watching some big Wall St players get burned. That's it. There's no objective beyond that for the majority of Redditors anyway.


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    #96
    raclle
    Registered Users Posts: 2,360 ✭✭✭raclle


    I've no idea what's going on but was reading the thread on reddit. Some guy is down tens of thousands but is being told to buy and hold on whatever that means


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    #97
    hatrickpatrick
    Registered Users Posts: 17,797 ✭✭✭✭hatrickpatrick


    raclle wrote: »
    I've no idea what's going on but was reading the thread on reddit. Some guy is down tens of thousands but is being told to buy and hold on whatever that means

    Buy means buy the stock while it's experiencing a dip, in the hopes that it'll go up again subsequently. Hold means keep it and don't panic-sell it because the price is going down - in this case, the tech firms are essentially forcing the trade to be one-way by banning people from buying the shares but leaving everyone free to sell them. WSB is attempting to co-ordinate a rebellion against this tactic by trying to convince the people currently involved to "hold the line" - that is, don't give in to the pressure and keep refusing to sell until the shenanigans stop.


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    #98
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Is that the 'We can stay retarded longer than they can stay solvent'..

    It's absolutely classic comedy in fairness..


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    #99
    Kermit.de.frog
    Registered Users Posts: 23,614 ✭✭✭✭Kermit.de.frog


    https://twitter.com/stoolpresidente/status/1354848771184750598


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    #100
    Overheal
    Registered Users Posts: 82,255 ✭✭✭✭Overheal


    hatrickpatrick wrote: »
    That's the thing, there isn't one. If you read through the comments, most people are putting money in without expecting to get it back, for the privilege of hopefully watching some big Wall St players get burned. That's it. There's no objective beyond that for the majority of Redditors anyway.

    worldburn-top.jpg


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    #101
    hatrickpatrick
    Registered Users Posts: 17,797 ✭✭✭✭hatrickpatrick


    @Overheal Exactly! I've even seen this one posted all over Reddit today in response to laughing cries of "you're all going to lose whatever you put into this":

    9ac971a291c625020a1d6dd38238e7e4.jpg


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    #102
    CruelSummer
    Registered Users Posts: 2,246 ✭✭✭CruelSummer


    Heard of this happening yesterday...interesting to see where this goes. It seems there’s an attempt to stop the peasants playing the market. That’s only allowed if you’re in an elite club.


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    #103
    Faugheen
    Site Banned Posts: 12,341 ✭✭✭✭Faugheen


    A bunch of redditors who are clearly trying to manipulate the market start crying when the experts manipulate the market...


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    #104
    [Deleted User]
    Posts: 6,192 ✭✭✭ [Deleted User]


    [Deleted User] wrote: »
    Is that the 'We can stay retarded longer than they can stay solvent'..

    It's absolutely classic comedy in fairness..

    I think,from reading it,they just dont care about the money tbh and fair fcuks to em if thats the case


    If a lad puts in 10K,it geos upto 10 million and crashes back to 10K again...they've not lost anything


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    #105
    hatrickpatrick
    Registered Users Posts: 17,797 ✭✭✭✭hatrickpatrick


    Faugheen wrote: »
    A bunch of redditors who are clearly trying to manipulate the market start crying when the experts manipulate the market...

    Very much the other way around :D


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    #106
    CIARAN_BOYLE
    Moderators, Sports Moderators Posts: 14,599 Mod ✭✭✭✭CIARAN_BOYLE


    Deleted User wrote: »
    I think,from reading it,they just dont care about the money tbh and fair fcuks to em if thats the case


    If a lad puts in 10K,it geos upto 10 million and crashes back to 10K again...they've not lost anything

    This is a pump and dump. The key group in the middle of this sold their stocks at the high point.

    People will see jail.


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    #107
    el Fenomeno
    Registered Users Posts: 3,168 ✭✭✭el Fenomeno


    argolis wrote: »
    How can there be more shares shorted than are available?

    A lot of the shorting is done via derivatives, and most of them will be cash settled rather than physical delivery of the underlying shares.

    Regulations differ depending on where you are, but for a UCITS fund for example you're allowed cash settle provided you have sufficient liquid assets at all times to cover the unrealised loss at any given time. Direct short selling is prohibited on UCITS.


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    #108
    RasTa
    Closed Accounts Posts: 15,116 ✭✭✭✭RasTa


    Looks like they are only allowing the selling of shares and are forcing some people into selling their's which would be highly illegal

    Es1pb5KWMAE19CD?format=jpg&name=medium


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    #109
    thomas 123
    Registered Users Posts: 2,768 ✭✭✭thomas 123


    RasTa wrote: »
    Looks like they are only allowing the selling of shares and are forcing some people into selling their's which would be highly illegal

    Es1pb5KWMAE19CD?format=jpg&name=medium

    Omg ...


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    #110
    thomas 123
    Registered Users Posts: 2,768 ✭✭✭thomas 123


    RasTa wrote: »
    Looks like they are only allowing the selling of shares and are forcing some people into selling their's which would be highly illegal

    Es1pb5KWMAE19CD?format=jpg&name=medium

    This has to be fake lol


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    #111
    Dyr
    Registered Users Posts: 23,246 ✭✭✭✭Dyr


    How long before the term "hate trading" is being bandied about to try shut this down?


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    #112
    timmyntc
    Registered Users Posts: 7,006 ✭✭✭timmyntc


    RasTa wrote: »
    Looks like they are only allowing the selling of shares and are forcing some people into selling their's which would be highly illegal

    Es1pb5KWMAE19CD?format=jpg&name=medium

    If that is real then sh*t is going down


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    #113
    [Deleted User]
    Posts: 6,192 ✭✭✭ [Deleted User]


    CIARAN_BOYLE wrote: »
    This is a pump and dump. The key group in the middle of this sold their stocks at the high point.

    People will see jail.

    Will be interesting to see how it pans out tbf

    I remember there was some big blowup about that reddit sub a few weeks ago and a tweet and it being an organised grouping


    That was as far as i red it,


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    #114
    Overheal
    Registered Users Posts: 82,255 ✭✭✭✭Overheal


    RasTa wrote: »
    Looks like they are only allowing the selling of shares and are forcing some people into selling their's which would be highly illegal

    Es1pb5KWMAE19CD?format=jpg&name=medium

    This is going to get violent...


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    #115
    RasTa
    Closed Accounts Posts: 15,116 ✭✭✭✭RasTa


    Yeah I was thinking it was fake myself but since they are only allowing selling and not buying atm to drive the price back down then who knows.


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    #116
    joe40
    Registered Users Posts: 3,811 ✭✭✭joe40


    [Deleted User] wrote: »
    I think,from reading it,they just dont care about the money tbh and fair fcuks to em if thats the case


    If a lad puts in 10K,it geos upto 10 million and crashes back to 10K again...they've not lost anything
    I get that but are people going to knowingly lose money to stick it to the man. What sort of sums are we talking.


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    #117
    listermint
    Registered Users Posts: 33,860 ✭✭✭✭listermint


    Overheal wrote: »
    This is going to get violent...

    That is obviously fake to get people to sell out the shares asap.


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    #118
    Overheal
    Registered Users Posts: 82,255 ✭✭✭✭Overheal


    listermint wrote: »
    That is obviously fake to get people to sell out the shares asap.

    could be, waiting on verification


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    #119
    listermint
    Registered Users Posts: 33,860 ✭✭✭✭listermint


    Faugheen wrote: »
    A bunch of redditors who are clearly trying to manipulate the market start crying when the experts manipulate the market...

    'experts' manipulate the market by preventing retail buys.

    That's not expert that's illegal.


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    #120
    Melanchthon
    Registered Users Posts: 1,118 ✭✭✭Melanchthon


    WrenBoy wrote: »
    Surely RobinHood closing the open market to cause a crash is market manipulation !??

    Isn't RobinHood a bit of a joke, I am not investor but Wall Streets Bets users a year or two ago found out that there was a way for the App to extend infinite credit to a user. If you go onto the site and sort by most popular you'l probably find a post related to it.

    Only been very casual follower of the sub but one of the few properly chaotic entertaining ones on Reddit that hasn't been neutered.
    I do think its likely that key users/mods in the sub could be using it too make cash, I think one of them was shilling a book last year.

    Don't get me wrong love seeing this and do really hope that the sub doesn't get completely ruined.


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    #121
    Overheal
    Registered Users Posts: 82,255 ✭✭✭✭Overheal


    And here's the class action lawsuit in the SDNY

    Not bad for 5 hours to slap that together!


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